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Colorado Sportsbooks Report a 49.4% Monthly Decline in December

Ziv Chen

Last Updated: January 31, 2025 3:09 PM EST • 1 min 26 sec read.

Colorado Sportsbooks Report a 49.4% Monthly Decline in December
Pictured: Colorado Avalanche defenseman Cale Makar skates with the puck. Photo by Brad Penner / Imagn Images.

A down month for our best sports betting sites in the the Centennial State.

The Colorado Department of Revenue revealed its sports betting figures for December 2024, producing $29.8 million in gross gaming revenue (GGR) and $14.5 million in net Colorado sports betting proceeds (NSBP). 

Out of this total, Colorado sports betting apps produced $29.8 million in GGR and $14.5 million in NSBP, and retail sportsbooks generated $39,820 GGR and $50,598 NSBP. 

Gaming revenue was a 49.4% decrease from $55.7 million in November. Sports betting proceeds dropped from $40.5 million in November, nearly a $26 million difference.

Top sports

However, despite gaming revenue declining, gross wagers and payments to players rose in December for the Centennial State. Wagers reached a combined total of $648.4 million, an increase from $647.9 million. Payments to players also rose from $592.2 million in November to $618.5 million. 

The Department of Revenue lists its top 10 sports by wagers, with the NFL and combination parlays taking the top two spots. Both had a percentage contribution of 25.7%, with NFL wagers generating $166.7 million in December, an increase of over $5 million compared to November figures. Parlays and combinations produced a little below $166.6 million, a $2 million increase from November, which generated $164.8 million in wagers. 

Following this, basketball generated 21.3% of wagers, revealing a total of $138.1 million in December. This was a 6.9% decrease from November, which produced $148.4 million in wagers. 

The remaining sports on the list included NCAA Football which generated $43.5 million in wagers. NCAA Basketball produced $32.6 million, table tennis at $29.4 million, soccer at $18.7 million, ice hockey at $15.8 million, tennis at $15 million, mixed martial arts at $1.9 million, cricket at $744,688, and other sports generated $18.9 million in wagers. 

Cease-and-desists

The Centennial State may have had a bleak December compared to previous months. Still, it may be worth mentioning that state lawmakers had previously sent a cease-and-desist letter to one of its many sportsbook operators at the beginning of June 2024. 

In June, Bovada Sportsbook had to close its services to users in Colorado and Michigan, stopping new users from signing up. The offshore operator based in Costa Rica was unlicensed and unregulated to run its betting services in these two states and various others throughout the United States.

Written By:
Ziv Chen
Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.